1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. Hi Guest, welcome to the TES Community!

    Connect with like-minded education professionals and have your say on the issues that matter to you.

    Don't forget to look at the how to guide.

    Dismiss Notice

Transferring money back to UK from China

Discussion in 'Teaching abroad' started by MsHandy, Aug 14, 2012.

  1. This is proving to be a nightmare and a very complicated process.

    Does anyone know of an easy way to do this that doesn't involve hours at the bank and having to drag along a translator?

    I do have a HSBC account in England, would it be easier to set up one in China and transfer it that way? Would this work?

    Thanks in advance.
     
  2. lovely.lady

    lovely.lady Occasional commenter

    I used to bank with ANZ in Shanghai and the process couldn't have been simplier, often getting there in the UK the next day! We used to fax the instruction from school.
     
  3. squeakyhaggis

    squeakyhaggis New commenter

    Take yourself to Bank of China at 9AM. Make sure you have your UK bank details (can't remember off the top of my head of it's the swift/iban you need but both are easy to get), your passport, your tax certificate and the cash. You should be out before 10AM. Check your UK account when you finish work and the money will probably be there. If it's not, check whether it's a bank holiday in the UK.
     
  4. richev

    richev New commenter

    Visa to visa transfer at an ATM is easy and fast I have found as long as you have a visa card in the UK

    http://corporate.visa.com/newsroom/press-releases/press951.jsp
     
  5. happygreenfrog

    happygreenfrog Occasional commenter

    I'd check out that HSBC link before opening an account in China. I joined HSBC out in SE Asia thinking exactly the same thing. Turns out they have the same name but are completely separate entities to the UK versions and transfer is no easier. Weird.
    The bank I get my salary paid into is a shambles. Any visit takes a minimum of 1 hour and they are shut before I leave work. They seem unable to handle swift/iban numbers and I cannot get hold of pounds to take home at xmas, even booking in advance, more annoying as they have an exchange rate displayed and act as a foreign currency outlet.
    That Visa to Visa ATM transfer idea sounds decent. Have you any details on that?
     
  6. Yes, how does the visa transfer work exactly?

    We went to our Bank of China last week at 8.30 am when it opened and it took over three hours with a translator. It's not always possible to take a translator in with us, so how did you manage it in one hour?

    Has anyone tried internet banking with Bank of China? This isn't easy either.
     
  7. richev

    richev New commenter

    I am in Kazakhstan not China, but the press release says this started in China. Going through the options on the ATM there is an option for transferring money visa to visa, we have to change money into dollars online first (the Kazakh bank account lets us do this for free) then select how many dollars to transfer and put the number on the front of the UK visa card in. The money is in the UK bank account usually next day. As we have a cash machine in school we can do this in between lessons!
    It does not work to the USA so some colleagues still have to trail down to the bank though.
     
  8. Which BOC branch do you use? The branches in Pudong have enough English speaking staff that a translator is not necessary. I haven't managed to get the BOC internet banking working but my employer made an agreement with the bank to have the money transferred each month to the UK automatically.Can you talk to your employer about this? Contact the BOC helpline, find someone who speaks English at the bank and try and set this up automatically each month. As long as it is the same amount, it works fine and within 2 or 3 days the money is in the UK bank. Otherwise it is soul destroying to go through this every month...
     
  9. I think that's one of our problems, the branch is in Dayi City, close to Chengdu and none of the staff speak English.

    I can try to set up an automatic transfer, that is a good idea.

    Thanks
     
  10. percy topliss

    percy topliss Established commenter

    I know that this is might not seem very helpful but......when we were there our school sorted it all out. Reading the posts on here it obviously saved us a lot of grief. Why not go in and really push for it? You would doubtless be helping many others as well.
    Perce
     
  11. squeakyhaggis

    squeakyhaggis New commenter

    I suspect your problem may be that it is an unusual transaction in that particular branch, so none of the staff can remember exactly how to process it.
    It should be quicker next time if you take the paperwork from before with you.
     

Share This Page